Latest News

Putnam Appoints New Head of Global Marketing and Products

October 10, 2008 – Jeffrey Carney has been appointed senior managing director and head of global marketing and products at Putnam Investments, effective Oct. 27. In this role, Carney will be responsible for the firm's defined contribution business, global product management, public and government relations, global marketing, and marketing communications. Prior to joining Putnam, Carney was the president of Bank of America retirement and global wealth & investment management client solutions. He has also spent years with Fidelity, first…

• Boise Endowment Fund to Pursue Mid-Cap Manager
• U.S. Pensions Have Lost Trillions
• Massachusetts Plan Loses Administrator
• Gordon Brothers Form New Investment Management Arm

More

Features

Florida Plans Replace Northern Trust

October 13, 2008 – The City of Rockledge Retirement Systems, which includes the $7.96 million employees' plan, the $6.61 million police employees' plan, and the $6.15 million fire employees' plan, recently opted to terminate Northern Trust from the large-cap value mandates it oversees for all three funds. The minutes from a September board meeting indicate that Northern Trust was removed from the mandates due to underperformance. The firm had been on the watch list at each plan since May.

Wisconsin Quant Manager Adds Research Pro

October 13, 2008 – Midwest Asset Management has hired Stephen Smart as director of fixed-income research, said James Byrd, president and director of research at the firm. Smart is filling a newly created position, which was developed to take advantage of the current market environment, Byrd said.

Washington State Seeks Index Managers

October 13, 2008 – The Washington State Investment Board (WSIB) wants to hear from firms who provide index related products. According to a recently issued RFP, the plan will focus primarily on non-U.S. equity products, but is also interested in managers who could provide index related products in global, U.S., emerging markets and fixed-income as well as customized funds, risk-based and target-date funds. The board will consider mutual funds, commingled, and separate account vehicles. However, the product 'may or may not include full stock replication, stratified sampling or other optimized techniques, ETFs, futures, forwards, swaps, other derivatives and/or any other innovative beta exposure products.'

Big Apple Funds Eye Small-Cap Equity

October 6, 2008 – The New York City Retirement Systems (NYCRS) has issued an RFP for U.S. equity active small-cap managers. NYCRS includes the employees', teachers', police, fire and board of education plans.

New Hampshire Looks At Two Asset Classes

October 6, 2008 – The New Hampshire Retirement System will be making changes to its international equity structure based on recommendations made by Ennis Knupp + Associates According to recently released minutes from the investment committee's September meeting, the consultant conducted a review of the asset class following the transition of a Walter Scott & Partners portfolio from an international equity mandate to a global equity mandate.

Many Promising Alternative Investments Exist, But You Never Know What You'll Get

October 6, 2008 – Alternative investments-including hedge funds, private equity, venture capital and commodities-have long been touted as the answer to plan sponsors' numerous investment challenges. With the S&P 500 down approximately 15% year-to-date-an unacceptable return to most plan sponsors (and investors in general)-alternatives look even more appealing. But alternatives have not been unaffected by the wider market slowdown: The IPO market for venture capital has ground to a halt, exit sales for companies taken private in buyouts are on hold and investing in commodities is facing regulatory scrutiny.

Shorting Ban Vexes Some Funds

September 29, 2008 – Volatile markets are one thing, but when banks stop lending, and people like the President, the Secretary of the Treasury and the Chairman of the Federal Reserve, start talking about the possibility of a financial system collapse, it's got to be a tough time to be a fund manager. It's even tougher if your fund makes use of shorting strategies, now that the SEC has placed a temporary ban on the shorting of financial stocks.

Iowa PERS Preps Overlay Search

September 29, 2008 – The Iowa Public Employees' Retirement System (IPERS) plans to issue an RFP for a beta overlay manager in the upcoming months, said Karl Koch, CIO of the $23.2 billion plan. "The RFP will not be issued until November or later," he said, adding that the size of the mandate could reach as much as $600 million after a few years.

More